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Review of TurnKey Lender’s Intelligent Lending Automation Solution

If your work has anything to do with credit products and/or technology, you might have noticed that over the last few years the name TurnKey Lender has been popping up on niche blogs and SaaS websites more and more. The company positions its solution as the all-in-one software that is capable of automating the entire lending process efficiently, intelligently, and affordably. 

The company has scored big-name partnerships, like HP and Thomson Reuters, and boasts unique flexibility of the software, and robust scalability.  Today we’ve decided to take a closer look at what TurnKey Lender has to offer and review the company’s product. 

But first, let’s take a quick look back on the company’s history. 

TurnKey Lender is a rather young company. Founded in 2014, it has already taken its place among the most popular lending automation companies on the market and became one of the highest-rated LaaS solutions by the clients. Even though each country has different regulations (which poses a problem for many FinTech ventures), TurnKey Lender has already worked with lenders in 40+ jurisdictions around the globe and the list keeps growing. Over the years, TurnKey Lender has raised several rounds of funding from some of the more reputable FinTech investment firms and used the influxes to further its growth in the key regions like North America, APAC, Southeast Asia, and Europe.

TurnKey Lender products

TurnKey Lender is a provider of AI-powered lending automation, credit decisioning, and risk management solutions and services. The company’s main product is a cloud-based, modular, all-in-one solution that automates the entire lending process. It can be used both as an end-to-end platform and as separate modules integrated into the client’s core system. The cornerstone modules of the solution automate origination, credit decisioning, borrower evaluation, risk management, underwriting, collateral management, servicing, collection, and reporting.

Even though lending may sound like something only payday sharks, banks, and credit unions do, that’s actually not the case. With their products, TurnKey Lender managed to tap into a wide range of industries all of which benefit from intelligent automation of the crediting process. Just some of the industries are cloud lending, retail, payday loans, microfinance, in-house lending, lease finance, medical, dental, invoice financing, auto financing, factoring, and telecom.

As you can imagine, the businesses in these industries all have different requirements when it comes to lending. That is why TurnKey Lender team created separate versions of their core product to meet the needs of different target audience segments. The two biggest products are:

  • TurnKey Lender Box – an end-to-end solution that can be deployed and operational within 1 (one) business day. It’s the optimal choice for small- to mid-size lenders who, according to the company’s testimonials, are often shocked with the value for money they are able to get. With all the modules we’ve mentioned above included, systm allows for automation of every step of the lending process. TurnKey Lender team can also customize the solution to meet the specific needs of a business. The platform has a proprietary AI-driven decisioning engine built-in. The sophisticated, adjustable scorecard uses deep neural networks to help the lender approve more of the right loans faster. With this solution, credit decisioning time can be as fast as 30 seconds.
  • TurnKey Lender Enterprise – as you can tell from the name, these are TurnKey Lender’s “big guns”. It’s a more complex platform that is used for the clients that have complex business processes, advanced automation needs, and large volumes of clients and data to process. This system is equipped with a one-of-a-kind business logic editor that makes it possible to fully change the entire business logic of the system within a simple drag-and-drop editor. The credit decisioning of this solution is also powered by AI and the scorecard can be customized to be based on the criteria the client wants to take into account. TurnKey Lender Enterprise isn’t an enhanced version of TurnKey Lender Box. These are two completely different solutions created with different goals and therefore different logic in mind. This solution is specifically aimed at automation for large-scale organizations that want to digitalize their existing processes or build a brand new solution from scratch. But whereas creating a proprietary solution is way too expensive to build and maintain, this system makes this process easy.  

Both Enterprise and Box solutions have multiple product editions based on specific industries and local regulatory compliance rules. Some of the examples include TurnKey Lender for Auto Dealers, TurnKey Lender for Clinics, Peer-to-Peer Lending Solution, PayDay Loans All-in-One Solution, and many more. There are 9+ country editions of the core software and versions tailored specifically for the needs of various crediting businesses, big and small.

Both Box and Enterprise products have 3 deployment choices:

  • The solution will be located on a commodity cloud
  • The solution will be deployed on-premises
  • A combination of both may be implemented

What makes TurnKey Lender special (Advantages)

One of the biggest issues for lenders worldwide has always been credit decisioning. You only need to approve the right people at the right terms and weed out anyone who’s not going to pay back the loan. Many businesses still rely solely on credit bureau reports and bank statements which is risky and often inaccurate. 

TurnKey Lender takes this process to the next level with its AI-powered borrower evaluation and credit decisioning. It uses alternative borrower evaluation approaches and data sources on par with the traditional ones to come up with a more accurate risk score that helps lenders run a far lower risk. 

Not to get longwinded, some of the advantages of the TurnKey Lender solution include:

  • Proprietary customizable scorecard
  • All-in-one nature of the platform
  • Suitable for different lender types and industries
  • Deep neural networks in loan decisioning
  • Country-specific editions tailored to address regulations of different regions
  • Security: the system is built in compliance with the OWASP standards, and has ISO 27001 and ISO 9001:2015 certifications
  • Intuitive UX and pleasing UI design 
  • Flexible and scalable system that can be customized to the client’s needs thanks to its modular structure.
  • 24/7 support for the clients
  • Impressive value for money
  • The solution is fully white-label


The underlying technologies behind TurnKey Lender are ASP.NET, MVC 5, and Angular JS 1.x. According to a performance test by Hewlett Packard TurnKey Lender is a flexible configuration choice on a highly scalable and reliable infrastructure


In order to achieve true automation of lending, you need seamless integration with multiple third-party data sources and tools. TurnKey Lender’s solutions integrate with payment providers, credit bureaus, email and SMS campaign systems, postcode search software, data validation solutions, collection agencies, match-code/image forgery apps, scoring systems, bank account validations, lead providers, CRMs, accounting software, insurance providers, analytics software, email providers, etc. Additional integrations can be added on demand. 

Final thoughts

Lending automation space seems crowded from the outside. But when you start to analyze the products separately, it gets really hard to find a robust solution that would offer true end-to-end automation of the business and lending processes. And in the digital age, that is what most of the business owners need to be looking for. 

TurnKey Lender gets it right. The team put in an enormous amount of effort and managed to create an intelligent product that can be tailored to any business’ needs, will be easy to use, maintain, and scale. The company also offers free demos and even a free trial of the Box edition. So for anyone looking to automate lending processes, go check TurnKey Lender out


  • Editorial Director of the The Fintech Times

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